Broadview Networks opts for prepackaged Chapter 11 reorganization

08/24/2012 | Total Telecom Magazine (U.K.)

Broadview Networks Holdings has filed for Chapter 11 protection from creditors, citing its inability to raise money for paying off senior notes due next month. The prepackaged filing carries the approval of the company's senior secured noteholders, who were owed $317 million. Those noteholders will get $150 million in new notes and new equities.

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Total Telecom Magazine (U.K.)

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